IFM09750 - Administrative requirements: Further information to be provided to HMRC
Regulation 38 provides that HMRC may issue a notice to the operator of a RIF to ask for information specified in that Regulation.
The operator will have a minimum of 42 days to respond to HMRC, and an officer of HMRC may extend the period where they consider it is reasonable to do so. HMRC may, in the first instance, contact the operator to explain what information is required and agree a suitable timescale for its production and only subsequently use the formal power to require the operator of a RIF to provide information if the initial approach is unsuccessful.
Where a notice relates to information required to be provided to HMRC under Regulation 37, HMRC may only request information relating to an accounting period for which the information reporting date (that is, the date falling 6 months after the end of accounting period) falls within the previous 12 months.
The operator of a RIF to whom a notice is issued can bring an appeal against a request for information or documents under Regulation 38(1)(b) for the purposes of determining whether the RIF has met or continues to meet the qualifying conditions, or the amount of time given to provide them. An appeal must be made within the period of 30 days beginning with the date on which the notice to the operator was issued. Where an appeal is made, the notice is treated as if it had not been given until the appeal is determined or withdrawn. The tribunal will determine, as appropriate, whether:
- It was just and reasonable for the officer of HMRC to require the information requested.
- Whether the amount of time given to provide the information was just and reasonable.
The tribunal can vary, affirm, or cancel the notice.
As a consequence of not providing the information, as well as a penalty (IFM09770+) in certain circumstances HMRC may issue a cessation notice (IFM09660).